BitGo Stock Slides After NYSE Debut as Crypto Stocks Show Mixed Performance

Shares of BitGo (BTGO) fell sharply in early trading Friday, underperforming the broader crypto stock market just one day after the company made its debut on the New York Stock Exchange. BitGo stock was down as much as 12% midday Friday and was last trading around $16.53, representing an 8% decline from its $18 IPO price. The pullback comes after an initially strong debut that saw shares climb as high as $24 shortly after trading began.

The weak performance places BitGo among the worst-performing crypto-related stocks this week, even as several peers showed signs of stabilization following recent volatility in the digital asset market. Bitcoin prices dropped from near $95,000 late last week to around $90,000, putting pressure on crypto equities across the board. Despite that decline, some major crypto stocks managed to regain modest ground. Galaxy Digital (GLXY) rose roughly 3%, Riot Platforms (RIOT) gained about 3%, Strategy (MSTR) advanced 2%, and Hut 8 (HUT) jumped approximately 7%.

BitGo’s IPO valued the digital asset custody firm at close to $2 billion, marking the first crypto company to go public in 2026 after an IPO-heavy 2025. Last year saw several high-profile crypto listings, including stablecoin issuer Circle (CRCL), digital asset trading platform Bullish (BLSH), and crypto exchange Gemini (GEMI). BitGo provides institutional-grade custody, security, and infrastructure services for digital assets, positioning itself as a key player in crypto market infrastructure rather than trading or mining.

The stock’s post-IPO decline may reflect broader investor caution toward crypto assets amid market volatility, as well as profit-taking after its initial surge. While BitGo’s long-term prospects remain tied to institutional adoption of digital assets and regulatory clarity, its early trading action highlights the challenges crypto companies still face in public markets. As investors continue to closely watch Bitcoin price movements and overall sentiment toward crypto stocks, BitGo’s performance may serve as an early indicator of how newly listed crypto firms will fare in 2026.